Snowflake (NYSE:SNOW) Stock Price Expected to Rise, KeyCorp Analyst Says

Snowflake (NYSE:SNOW) had its target price hoisted by stock analysts at KeyCorp from $185.00 to $210.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 14.42% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating and set a $180.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Bank of America raised their price target on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. UBS Group reduced their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and boosted their price target for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

Snowflake Trading Up 0.3 %

Shares of NYSE:SNOW opened at $183.53 on Thursday. The business’s 50-day moving average is $131.51 and its 200 day moving average is $129.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.58. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72. The firm has a market capitalization of $61.52 billion, a P/E ratio of -54.41 and a beta of 1.03.

Insider Activity

In related news, CAO Emily Ho sold 2,021 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,278 shares of company stock worth $47,825,233. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in the stock. Modus Advisors LLC lifted its holdings in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares during the last quarter. Catalyst Private Wealth LLC lifted its stake in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after buying an additional 104 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the period. Hoylecohen LLC boosted its holdings in shares of Snowflake by 2.7% in the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock valued at $589,000 after acquiring an additional 115 shares during the period. Finally, Clear Creek Financial Management LLC grew its position in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after acquiring an additional 115 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.